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AMETEK Completes Sale of Reading Alloys to Kymera International

AMETEK completed the sale of its Reading Alloys business to Kymera International, a specialty materials company that is owned by affiliates of Palladium Equity Partners. The purchase was announced at the start of 2020.

"This transaction completes our recent strategic portfolio review process and further strengthens our already strong balance sheet, which supports our capital deployment efforts," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "We wish Reading Alloys continued success and thank the team for their tremendous efforts through this process."

Reading Alloys, based in Robesonia, Pennsylvania, has annual sales of approximately $160 million and was sold for $250 million in an all-cash transaction.

Kymera is focused on non-ferrous powders, granules and pastes including aluminum, copper, tin and their alloys. The company sells its technically developed products into end markets including aerospace, additive manufacturing, chemical, specialty auto and numerous industrial applications. Kymera International has manufacturing facilities in the U.S., Australia, Europe, and Asia.